Retail biggies fight for talent
Poaching continues to daunt retail biggies. With a shortage of experienced hands, the big players seem to be in a direct bullfight for retaining their top management.
By Supriya Verma & Boby Kurian, TNN |
Mumbai/Bangalore: Poaching continues to daunt retail biggies. With a shortage of experienced hands, the big players seem to be in a direct bullfight for retaining their top management.
The latest development involves Darshan Mehta, a onetime close confidante of Sanjay Lalbhai and former head of Arvind Brands. Mr Mehta quit Arvind and was on his way to head Future Group’s international brands business and astrtaegic alliances. But, it now appears that Mr Mehta is all set to join Reliance.
Mr Mehta is seen floating a venture of his own with the backing of Mukesh Ambani and a private equity player. The new entity is expected to handle the fashion apparel brands of Reliance Retail, and may take care of sweing up alliances with international players.
Interestingly , Mr Mehta have taken three of his colleagues — Sumit Yadav, Pradip Mukhim and Nithin Chhabra — from Arvind to Future, and now to the RIL-backed new venture. Mr Mehta could not be reached for confirmation.
The fight for talent in India’s red hot retail sector has been hogging media limelight for a while now. In fact, Reliance, Future group, Bharti-Wal-Mart , Aditya Birla are all vying for the same talent pool.
And the scene appears to be turning chaotic by the day. There is no other sector where such a trend is dominant, industry observers say. Earlier, it was the likes of Raghu Pillai and Gunendar Kapoor, which Reliance had poached.
But now, it’s their turn to face the vagaries of talent poaching. Recently, Reliance saw the exit of Sriram Srinivasan, eventhough he is expected to continue as an advisor for a while. He was heading the apparel division of retail business. Around the same time, Madura Garments, the country’s largest fashion retailer and part of the AV Birla Group, saw its president Hemchandra Javeri moving out.
His name is now being linked to possible assignments with Future Group and Arvind Mills. But there is no confirmation on this, and Mr Javeri said he has not taken acall on the new assignment.
The green buck is the main lure for the flux gripping the retail play.
A minimum of 30% increase in compensation, five-days a week work culture, and exposure with the world’s biggest retailer are among the reasons cited for people’s decision to work for these retail behemoth. Esops, joining bonuses, exit allowances are some of the additional magnetism that attracts talent.
The latest development involves Darshan Mehta, a onetime close confidante of Sanjay Lalbhai and former head of Arvind Brands. Mr Mehta quit Arvind and was on his way to head Future Group’s international brands business and astrtaegic alliances. But, it now appears that Mr Mehta is all set to join Reliance.
Mr Mehta is seen floating a venture of his own with the backing of Mukesh Ambani and a private equity player. The new entity is expected to handle the fashion apparel brands of Reliance Retail, and may take care of sweing up alliances with international players.
Interestingly , Mr Mehta have taken three of his colleagues — Sumit Yadav, Pradip Mukhim and Nithin Chhabra — from Arvind to Future, and now to the RIL-backed new venture. Mr Mehta could not be reached for confirmation.
The fight for talent in India’s red hot retail sector has been hogging media limelight for a while now. In fact, Reliance, Future group, Bharti-Wal-Mart , Aditya Birla are all vying for the same talent pool.
And the scene appears to be turning chaotic by the day. There is no other sector where such a trend is dominant, industry observers say. Earlier, it was the likes of Raghu Pillai and Gunendar Kapoor, which Reliance had poached.
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But now, it’s their turn to face the vagaries of talent poaching. Recently, Reliance saw the exit of Sriram Srinivasan, eventhough he is expected to continue as an advisor for a while. He was heading the apparel division of retail business. Around the same time, Madura Garments, the country’s largest fashion retailer and part of the AV Birla Group, saw its president Hemchandra Javeri moving out.
His name is now being linked to possible assignments with Future Group and Arvind Mills. But there is no confirmation on this, and Mr Javeri said he has not taken acall on the new assignment.
The green buck is the main lure for the flux gripping the retail play.
A minimum of 30% increase in compensation, five-days a week work culture, and exposure with the world’s biggest retailer are among the reasons cited for people’s decision to work for these retail behemoth. Esops, joining bonuses, exit allowances are some of the additional magnetism that attracts talent.
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At Madura Garments, like in many other retail companies, there’s now a call to induct expats into critical functions. The expats come on a fixed-term contract and defined deliverables. “This also brings in international skills sets into an emerging sector in India, and also stem attrition,” say observers.Start a SIP with as low as ₹500 with ET Money App!
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